What to Consider When it Comes to Free Asset Management Software

Running a small business means you have to cut costs wherever possible. It’s tempting to look for free asset management solutions to help reduce some of your business costs. After all, you don’t have the financial capital that many medium to large businesses have on hand. Saving money wherever you can is a big priority.

However, there’s more at stake than just cost when you invest in a free asset tracking system. Here are some of the most common problems you’ll experience when you look for something for free.

Free Solutions Have Limited Features

There are many free options available when it comes to asset management. However, because these solutions are provided at no cost, they do not have the same kinds of features other asset software is equipped with. Depending on what kinds of assets you are tracking, not having these features could make it more difficult to track company investments instead of easier.

Free Asset Management Solutions Have Poor or No Customer Support

Many small businesses use Excel spreadsheet templates to manage their asset organization. Because these templates were created by an individual, they do not have any customer support behind them. Using Excel can also be a challenge when you get formulas and calculations involved. If you encounter an issue managing your assets with free software, you’re on your own.

Free Software is Not Customizable

Most free asset management software programs come preset. If you want to make any adjustments to the way it works, or add on any modules, you’re out of luck. Unless you or someone in your company knows software development, you’ll just have to work with whatever features the software comes with. You can try to figure out how to work around the software restrictions, but this will likely lead to frustration and wasted time.

Free Asset Software Leads to Mistakes

Because spreadsheets require manual data entry, they are often prone to error and can cause issues in recording important data. Error-ridden asset records can lead to misguided business decisions, and if not caught soon enough, can seriously threaten your company.

Asset Panda’s asset management software helps you avoid all of these problems. Our platform comes with dozens of features and is easy to customize to meet your business needs. Take advantage of transaction configurability and custom fields when using our mobile app. You’ll also be able to add on additional modules, to ensure your team has the software they need to get the job done.

Our software is supported by friendly and knowledgeable customer service based in the U.S. They’re happy to help you with any problems you might encounter in setting up our software. Much of Asset Panda’s platform is automated, which means you don’t have to rely on risky manual data entry to manage your assets. You can rely on the security of the cloud to ensure all of your asset information is saved, no matter what may happen to your hardware.

If you still want to pursue a free asset management solution, you can try out Asset Panda free for 14 days. In that time, you’ll be able to see for yourself how it compares to many of the free solutions available. Timberhorn switched over to Asset Panda from using Excel. By doing so, the company was able to save 40 hours each month tracking fixed assets.